Coca cola to be the Third biggest market: CEO James Quincey

Coke to be  the 3^rd biggest market : CEO James Quincey

Coca cola the largest beverage company wants to make India the third largest market in the world and this statement was delivered by the CEO of Coca cola James Quincey. He also stated that the India business had touched 1 billion in unit sales in calendar year 2019. The local arm of firm are now targeting to double the volume into 2 billion in units by next 5 years .

Currently the domestic market is down because of the low consumption and Quincey said “short term” blip in consumption would not affect the company’s long term plans for growth. He also termed  India as a strategic market for Coca cola company and is a country were potential growth can take place. Instead of Single segment they are expanding their segments and establishing the beverage company with strong local roots. As of now India is in Fifth place in the world for Coca cola. It is behind the countries; US, Mexico, China and Brazil which are Coca-cola’s top  4 markets globally.

Coca cola is now in the wide categories of drinks such as enhanced hydration, dilutables and low calorie drinks. By the reports of analysts it is said that  by last two years India has steady growth in Coca cola Business. In December coca cola has decided  for bottling operations in North India transferring four territories to existing bottlers. The company has declined speculation that it purposes to exit bottling operations in India altogether, saying that it will continue investing in all aspects of the business. 

Quincey also said the “company to push smaller packs, drive innovation and roll out local drinks and flavours” in line with its Global strategy and the company is on their way to make the India a “ fruit circular economy” before 2023.

By this we can understand on how the companies outside India for its potential growth and the level of Interest to conduct the business operations.